Chancellor announces Spring Budget date
Chancellor Jeremy Hunt has announced that the Spring Budget will be delivered on 15 March 2023. Mr Hunt stated that he has commissioned the Office for Budget Responsibility (OBR) to…
Tax
MTD for ITSA delayed for two more years
The Treasury has announced that Making Tax Digital for income tax self assessment (MTD for ITSA) will be delayed for two more years until April 2026. MTD for ITSA was…
Digital Services Tax has raised £358 million
The UK’s Digital Services Tax (DST) raised £358 million from large digital businesses in the 2020/21 tax year, according to data published by the National Audit Office (NAO). The DST was…
Autumn Statement Summary & Tax Tables 2022/23
The Chancellor, Jeremy Hunt, was faced with a challenging economic backdrop to his first major set piece, grappling with a combination of over 11% inflation, an official recession and the…
Celebration of 140 Years and Rebrand For The Future
Simpson Wood, celebrated its 140th anniversary last night and is looking to the future with a brand-new look and feel. After being delayed for 24 months due to Covid, the…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2022. The guidance states: ‘you can use the previous rates for up to one month…
Treasury Committee warns government against ‘flying blind’ with Emergency Budget
The Treasury Committee has urged the government to provide assurance that it is not ‘flying blind’ into a potential Emergency Budget this September. In a letter sent to Chancellor Nadhim…
HMRC criticised over IR35 implementation
HMRC needs to demonstrate that off-payroll working rules, commonly known as IR35, can operate effectively and fairly in the real world, according to a report by the Public Accounts Committee (PAC)….
Chancellor announces windfall tax on energy firms
Chancellor Rishi Sunak will impose a windfall tax on energy firms alongside a package to help households with the cost-of-living crisis. Mr Sunak said a ‘temporary, timely, and targeted’ 25%…
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